Corporate Governance and Collusive Behaviour

Paolo Buccirossi and Giancarlo Spagnolo

No 6349, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This chapter examines the relationship between corporate governance and competition, particularly with regard to cartel formation, and discusses how corporate governance and firm agency problems affect optimal law enforcement against cartels, both in terms of sanctions and leniency policies. Many of the conclusions appear applicable, with minor changes, to non-antitrust forms of collusion, such as collusion between auditors and management, and more generally to corporate and organized crime.

Keywords: Amnesty; Antitrust; Cartels; CEO compensation; Collusion; Corporate crime; Corporate fraud; Corporate governance; Corporate liability; Corruption; Deterrence; Employee liability; Fines; Immunity; Imprisonment; Indemnification; Judgement proofness; Leniency; Managerial incentives; Optimal sanctions; Rewards; Whistleblowers (search for similar items in EconPapers)
JEL-codes: G30 K00 L20 L40 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-com, nep-law and nep-reg
Date: 2007-06
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